Risk Disclosure

Please read this carefully

This Risk Disclosure explains some of the main risks of investing and of using systematic research such as ours. It is not a complete list. If you do not understand these risks, do not act on any signal and seek independent professional advice.

Risk of loss

All investing carries risk. The value of investments can go down as well as up, and you may lose some or all of the money you invest. Only invest money you can afford to lose.

Market volatility

Prices can move quickly and sharply, including outside normal market hours. A signal accurate when published can be out of date minutes later.

Leverage

Borrowing to invest, or using leveraged or derivative products, increases both potential gains and potential losses. Losses can exceed your original investment. A signal stating that conditions "support" leverage is a general model output, not a recommendation for you to use leverage.

Asset-specific risks

[CONFIRM: describe risks specific to the markets covered ([MARKETS]). If digital assets are covered, include: extreme volatility, exchange and custody failure, loss of private keys, hacks, limited regulation and investor protection, and rapidly changing law and tax treatment.]

Model and system risk

Our signals come from rules-based models. Models simplify reality and can fail. Risks include: rules that worked in the past stop working; market conditions change in ways the model has not seen; inputs or data contain errors or delays; and design choices that fit past data too closely ("overfitting").

Hypothetical and backtested results

Any hypothetical or backtested result, if we ever show one, would be prepared with the benefit of hindsight, would not reflect real trading, fees, taxes, slippage or liquidity, and would have inherent limitations. No representation is made that any account will or is likely to achieve results similar to any hypothetical result.

Timing and execution

Signals are published at a point in time and delivered through third-party platforms that may be delayed or unavailable. Prices you can trade at may differ from prices when a signal was prepared.

Liquidity, counterparty and platform risk

You may be unable to buy or sell when you want, at the price you want. Brokers, exchanges and custodians you use can fail, restrict withdrawals or suffer security breaches.

Regulatory and tax risk

Laws, regulations and tax rules can change and can affect the value or legality of an investment. You are responsible for your own tax obligations.

Suitability is your responsibility

Our research is impersonal and the same for every member. Deciding whether any investment is suitable for you, and in what amount, is entirely your responsibility.